Jetsgo Pilots 30K

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Doc
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Post by Doc »

That's because most training bonds are paid back. No deduction there. But the portion of the bond/loan not returned to the pilot should qualify as a deduction. See a good tax person...but I think the part not returned should do the trick.
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listenheregirl
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Writing off employment expenses

Post by listenheregirl »

here...I took this from Quick Tax Software...

Employment Expenses


You may be able to claim certain expenses you paid to earn employment income if you meet both conditions below:

i) Your employment contract requires you to incur these expenses as part of your employment; and
ii) you didn't receive a non-taxable allowance for expenses paid (an allowance not reported on your T4 slip).


Select the checkbox if you are eligible to claim employment expenses.




Incurred expenses for the purpose of earning employment income


Note: The CRA requires that your employer complete and sign Form T2200 in order for you to be eligible to claim your employment expenses. You do not have to submit this form with your return. However, keep it in case CRA asks to see it.
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cyyz
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Re: Writing off employment expenses

Post by cyyz »

listenheregirl wrote:
Note: The CRA requires that your employer complete and sign Form T2200 in order for you to be eligible to claim your employment expenses. You do not have to submit this form with your return. However, keep it in case CRA asks to see it.
No one left around to sign said documents.
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Doc
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Post by Doc »

Did a little research here. You dont need a T2200, IF the 30K was a condition of employment, and IF you have a receipt, and IF you were not paid back, then you can claim it. On the down side, if it's been paid back, any interest paid to the pilot would be taxable. And of course, you cant claim the portion that was paid back.
Hope this helps....but I would take the whole nest of worms to a tax expert!
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